J.P. Morgan captures 52 team positions, three fewer than last year, but widens its lead over repeat second-place winner Barclays Capital, which claims 44 (down from 49). BofA Merrill Lynch Global Research, with 39 positions, holds steady in third place for a fifth year running, while Goldman, Sachs & Co., with 27, lands at No. 4 for a third consecutive year. Rounding out the top five is Deutsche Bank, which rises one rung after picking up five positions, for a total of 15.

Results reflect the opinions of more than 1,600 money managers and buy-side analysts at some 520 institutions that manage roughly $11.6 trillion in U.S. fixed-income assets.

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